Hbar climbs to $0.145 as ETF inflows boost market sentiment.

Key Points

• Hedera’s native token HBAR has surged 6.5% in the past 24 hours, now trading above $0.12.
• The token could rise towards $0.145 amid increasing ETF inflows.

ETF Inflows Boost HBAR Sentiment

HBAR, the native token of the Hedera blockchain, has seen a 6.5% increase over the last 24 hours, now trading at $0.123. This impressive performance positions it among the top 30 cryptocurrencies by market capitalization.

The positive trend is driven by rising institutional demand. According to SoSoValue, nearly $818,000 flowed into Hedera ETFs on Tuesday, marking the third consecutive day of positive inflows since last week.

Should these inflows continue, HBAR might extend its upward price movement. Moreover, data from CryptoQuant indicates that both spot and futures markets for HBAR are showing heavy whale orders, suggesting a potential rally ahead.

CoinGlass reports that HBAR’s long/short ratio stood at 1.06 on Wednesday, the highest level in over a month. This ratio, exceeding one, reflects bullish market sentiment as more traders hold long positions compared to short ones.

HBAR Could Extend Gains to $0.145

The HBAR/USD four-hour chart currently shows a bullish trend after Hedera maintained its value above $0.12 earlier this year. At the time of writing, HBAR is approaching the 50-day exponential moving average (EMA) at $0.127.

If bullish momentum pushes the daily HBAR candle to close above the 50-day moving average, it could extend gains towards resistance at $0.145. A sustained rally could see HBAR testing the upper boundary of the wedge pattern around $0.152.

The RSI on the four-hour chart is currently at 58, above the neutral level of 50, indicating strengthening bullish momentum. Furthermore, the moving average convergence divergence (MACD) shows a bullish crossover that remains intact.

Conversely, if HBAR experiences a correction, it could see further declines towards a weekly support level below $0.10.